Biden Admin Weighs Blocking Twitter Deal On “National Security” Grounds… Just As Musk Wanted

One month ago we joked that should the Delaware judge force Musk to buy Twitter, then none other than the US government would step in and prevent the South African from gaining control over the blue-checkmark echo chamber of record, the one social media network which congressional testimony after congressional testimony has argued it can manipulate the outcome of elections.

Biden Admin Weighs Blocking Twitter Deal On “National Security” Grounds… Just As Musk Wanted

H/T: Alex Christoforou

Related:

Twitter Shares Tumble After US Weighs Reviews for Musk Deals

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The Euro Without German Industry

By Michael Hudson

The reaction to the sabotage of three of the four Nord Stream 1 and 2 pipelines in four places on Monday, September 26, has focused on speculations about who did it and whether NATO will make a serious attempt to discover the answer. Yet instead of panic, there has been a great sigh of diplomatic relief, even calm. Disabling these pipelines ends the uncertainty and worries on the part of US/NATO diplomats that nearly reached a crisis proportion the previous week, when large demonstrations took place in Germany calling for the sanctions to end and to commission Nord Stream 2 to resolve the energy shortage.

The Euro Without German Industry

Surging cost of living in US drives class tensions to the breaking point

The latest inflation data published Tuesday shows that the working class confronts months of immense hardships as wages lose their value in the face of rising living costs. The ruling class’s attempt to make the working class pay for the crisis of capitalism is driving workers into struggle across the world, including in the United States, where teachers, nurses, and possibly railroad workers are launching powerful strikes.

Surging cost of living in US drives class tensions to the breaking point

U.S. Strategic Petroleum Reserve Falls To 35-Year Low as American crude heads overseas at a record pace

U.S. Strategic Petroleum Reserve Falls To 35-Year Low

According to the Institute of Energy Research, the SPR is expected to shrink to a 40-year low by the end of October, with inventories then at 358 million barrels, compared to 621 million barrels a year ago.

Related:

US oil exports to China and India jump as American crude heads overseas at a record pace

The only thing that climbed as high as gas prices earlier this year was the disapproval of US President Joe Biden 😂

Biden was wrongly blamed for rising gas prices. But he doesn’t deserve much credit for the drop

China Heralds Another Major Oil Discovery

China’s state-run China Petrochemical Group, Sinopec, says it has discovered a massive oilfield in the Tarim Basin, containing 1.7 billion tons of oil reserves.

The discovery is the result of exploration in the Shunbei oil and gas field, said to be one of the deepest commercial fields in the world, in the country’s Xinjiang region.

China Heralds Another Major Oil Discovery

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Chinese Oil Giants Sinopec And PetroChina To Delist From NYSE

The Energy Industry in Xinjiang, China: Potential, Problems, and Solutions

How oil has shaped Xinjiang

Vast oil deposits discovered in Xinjiang

I’m sure Halliburton would love to get their hands on that oil! Oh wait, that was Iraq!

Calling a recession and blaming it on interest rates

The latest US GDP figures for second quarter of 2022 renewed the debate about whether the US economy was in a recession or not. Real GDP contracted in the second quarter of this year by a 0.9% annualised rate (or by 0.2% quarter over quarter). That meant the US economy had contracted for two successive quarters, and so ‘technically’ (by that definition) was in a recession. Real GDP is now up only 1.6% from Q2 2021. And business investment is slowing, up only 3.5% from this time last year, the slowest rate since the end of the COVID slump in 2020.

Calling a recession and blaming it on interest rates